On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her statement seemed accurate for numerous observers. It is one of the broadcasters where you can find reality-based and generally reliable reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Battle
But CNN, now middle-aged, finds itself in a uncertain position as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of business acquisition, rather than as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Issue and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis endures.
“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the latest acquisition battle.